Dealership Sold

Hyundai and Kia of San Leandro

San Leandro, California

Performance Brokerage Services, announces the successful sale of the Hyundai and Kia dealerships in San Leandro, California from Mr. George Assoun to Mr. Nicholas Parks.

Originally from France, George Assoun came to the United States in 1968 to visit friends and family, and he never left. After 33 years of operating in the automotive industry, including a partnership in a Toyota dealership in Hayward, California, George became the owner of Marina Square Auto Center in San Leandro in 2001. For 13 years, George managed the day-to-day operations of the Nissan, Hyundai and Kia dealerships in San Leandro, California under the name Marina Square Auto Center. With wishes to finally retire from the automotive industry, George contacted Performance Brokerage Services to help sell his car dealerships. When asked about the quality of service George received from Performance Brokerage Services, he mentioned “They are honest, no pie in the sky, and they are a real pleasure to work with. They are truly class act auto dealership brokers.”

Purchasing only the Hyundai and Kia franchises, Nicholas Parks renamed the dealerships to Nicholas Parks Hyundai and Nicholas Parks Kia. The dealerships are located at 1066 Marina Boulevard in San Leandro, California. Following the acquisition and the assistance he received from Performance Brokerage Services, Nicholas Parks stated “Unlike any other broker, Performance Brokerage Services can speak knowledgeably about virtually any market in the US, and also has a keen understanding of dealerships’ operations. This unique combination makes them a valuable consultant and dealership broker.”

This transaction was exclusively facilitated by Performance Brokerage Services, an auto dealership broker that specializes in intermediary services to buyers and sellers of new car dealerships.

Jason Stopnitzky, a Partner at Performance Brokerage Services and the representative for this transaction stated, “In my 16-year career of brokering the sale of automobile dealerships, and having worked on over 200 successful transactions, the sale of San Leandro Hyundai and Kia was one of the most complex transactions I have experienced. From property constraints, duality in the showrooms, cap-x requirements from both Hyundai and Kia, to the overall landscape of the dealership footprint relative to the occupancy rate on San Leandro Auto Row, this was an exceptionally complicated transaction. This made it that much more rewarding when escrow finally closed and both principals were satisfied with the transaction. The contemplated transaction never would have happened without the commitment, comfort level and mutual respect between the buyer and seller, as well as seller’s counsel Mr. Brian McSweeney. I wish Mr. Assoun health and prosperity during his retirement and wish Mr. Parks the greatest of success with his recent acquisition.”

Seller:George Assoun
Buyer:Nicholas Parks

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